Relmada Therapeutics Inc (OTCMKTS:RLMD) has been steadily surging on the charts from last few days. The performance appears somewhat shaky, but the fact is it has just posted only three red sessions in this month, as more and more investors are pouring money into RLMD stocks. On Friday, investors traded over $2 million worth of shares and pushed the stock price up by an impressive 7% which indicates that it’s currently sitting at $3.55 for the first time since December. Naturally enough, it is important to analysis what’s going on.
The press releases of Relmada don’t sound too bad. It recently announced a series of developments related to the clinical testing of its lead products. Sergio Traversa, the CEO of Relmada, also addressed investors and will continue to make a presence in some conferences which will fetch more attention to the company.
The financial performance
The experienced investors know that a lot of firms on the OTC platform have some financial concerns. However, Relmada Therapeutics Inc (OTCMKTS:RLMD) is not one of them. In fact, the last quarterly report for the quarter ended December 31, 2014 stated that Relmada had cash of $31.4 million, current assets of $32.8 million and current liabilities of $28 million. However, the revenue was zero, and operating expenses stood at $4.3 million. The report suggested liabilities included derivatives. Also, no revenue is justified considering the fact that it is a clinical stage firm. The main highlight of the 10-Q report, however, is the massive amounts of cash on hand.
The future ahead
The press releases imply that Relmada is making significant progress with the clinical studies, and the 10-Q form indicates that the company has funds to continue moving forward. The financial performance and the press releases support the recent stock hike. Investors should probably analysis about it too before they put their money on the line.